EV Used Car Values Are Holding Up | 11 Jan 2021

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On today’s podcast:

• Ultium Cells Battery Plant Construction Progress
• EVs Holding Used Values High
• Tesla to produce $25K car as early as 2022
• John Deere introduces electric backhoe
• VW explains how the ID.4 electric SUV gets smart about coasting
• NHTSA To Establish EV Battery Safety Initiative
• Norway plans to triple carbon tax in new climate measures
• Coventry and Oxford to become UK's first all-electric bus cities

 

Show #959

 

Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Monday 11th  January. It’s Martyn Lee here and I go through every EV story so you don't have to.

 

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ULTIUM CELLS BATTERY PLANT CONSTRUCTION PROGRESS

"Thanks to the Ray Noneya channel, we can check the construction progress of the Ultium Cells LLC battery manufacturing facility in Lordstown, Ohio (a joint venture between General Motors and LG Chem)." accoding to InsideEVs: "roughly half of the construction work is already done. Surely, there is a lot to do, but we would not be surprised if the building is complete within several months. Then, the company will install manufacturing equipment and should be ready to start production on schedule in 2022."

 

$2.3 billion investment and more than 1,100 new jobs

plant located in Lordstown, Ohio

target manufacturing capacity of 30 GWh annually (with an option for further expansion)

 

https://insideevs.com/news/464989/ultium-cells-battery-plant-progress-january-2021/

 

EVS HOLDING USED VALUES HIGH

"How much your vehicle will depreciate depends on a number of things, including its make, model and mileage.  With more electric vehicles starting to enter the second-hand market, how well do they hold their value? " says Comparethemarket: "The EV that holds its value the best is VW's electric version of the Golf, with used models selling for an average price of £23, 248 three-quarters of the 'new' price three years ago.  This is followed by two Tesla models, the Model S 75 (26.7% depreciation) and Model X 75D (27.5%). Teslas are among the most expensive electric cars and benefit from regular software updates which help them retain their value."

 

https://www.comparethemarket.com/car-insurance/content/electronic-vehicle-resales/

 

TESLA TO PRODUCE $25K CAR AS EARLY AS 2022

"An eco-assessment report for Gigafactory Shanghai recently provided a teaser about a third Tesla that will be produced at the China-based electric car factory. The documents hint that Tesla is looking to produce a new car at Giga Shanghai as early as 2022, and it will be priced between RMB160,000 to RMB 200,000 (about $25,000 to $30,000). " as per Teslarati: " Tesla’s steadily improving sales in China were key drivers for the impending launch of the third vehicle. The new car was reportedly approved as early as September 2020, and product verification is poised to be completed around March 2021. The vehicle, which will reportedly be based on the Model 3 chassis, will take its place as Tesla’s entry-level EV in the country."

 

https://www.teslarati.com/tesla-25k-car-release-date-2022-china-report/

 

JOHN DEERE INTRODUCES ELECTRIC BACKHOE

Following the news of teh electriv JCBbackhow recently: "John Deere has unveiled the concept of an all-electric backhoe, a type of digger, at an early stage of development. The manufacturer not only wants to promote electric vehicles in agriculture but also on construction sites in the future." says electrive: "In the test phase, the manufacturer is working with the US utility National Grid to test the vehicles on its construction sites."

 

https://www.electrive.com/2021/01/07/john-deere-introduces-electric-excavator/

 

VW EXPLAINS HOW THE ID.4 ELECTRIC SUV GETS SMART ABOUT COASTING

"Unlike most other electric cars, the 2021 Volkswagen ID.4 doesn't feature anything close to one-pedal driving, the aggressive use of regenerative braking that many electric-car fans are fond of. And it's for good reason, VW argues. What happens when the driver of an electric car takes their foot off the accelerator pedal is a "difficult, philosophical question," the automaker said in a press release Wednesday. VW believes the answer to that question is coasting." says Green Car Reports: "The coasting function was designed to make driving more "predictable. The ID.4 does still use regenerative braking, but it activates when the driver steps on the brake pedal. The electric motor provides all braking up to about 0.25g of deceleration, according to VW, at which point the friction brakes activate"

 

https://www.greencarreports.com/news/1130841_vw-explains-how-the-id-4-electric-suv-gets-smart-about-coasting

 

NHTSA TO ESTABLISH EV BATTERY SAFETY INITIATIVE

"NHTSA is creating an initiative for EVs to coordinate research, conduct investigations and develop safety standards related to battery safety. As part of the initiative, the agency on Friday said it will collect and analyze data, conduct special investigations of EV crashes and noncrash events, conduct research on battery diagnostics and prognostics and explore risks related to cybersecurity and vehicle connectivity." says Technocodex: "With the initiative, NHTSA said it will “continue to conduct investigations into potential safety-related defects related to electric vehicle batteries.”"

 

https://technocodex.com/nhtsa-to-establish-ev-battery-safety-initiative/

 

NORWAY PLANS TO TRIPLE CARBON TAX IN NEW CLIMATE MEASURES

"Norway's government on Friday unveiled a range of measures aimed at achieving the country's climate objectives, including a more than tripling of the country's carbon tax. Norway, the biggest producer of oil in Western Europe, has said it aims to reduce its greenhouse gas emissions by 50 to 55 percent by 2030." says The Local.no: "Among the measures presented, the government proposed a requirement for public services to only buy "zero emission" cars and vans from 2022 onwards. The same will apply for public auctions on ferry services from 2023 and urban buses from 2025.Norway, which is powered primarily by hydroelectric dams, is a pioneer when it comes to electric transport."

 

https://www.thelocal.no/20210108/norway-plans-to-triple-carbon-tax-in-new-climate-measures

 

COVENTRY AND OXFORD TO BECOME UK'S FIRST ALL-ELECTRIC BUS CITIES

"Coventry and Oxford are set to be the first parts of the UK to run all-electric bus services according to Transport Secretary Grant Shapps." writes Business Traveller: "Subject to approval, the two local authorities could be granted up to £50 million each to finance the change to a greener fleet, install new infrastructure such as charging stations, and pay for electric grid updates."

 

https://www.businesstraveller.com/business-travel/2021/01/09/coventry-and-oxford-to-become-uks-first-all-electric-bus-cities/

 

 

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